World Cup's First Scam? WCUP Surged to a Market Cap of Approximately $50 Million, with 95% of Its Supply Controlled by a Single Entity

The Odaily Planet Daily News reports that, according to Bubblemaps monitoring, the FIFA-related token WCUP, which launched yesterday, surged to a market cap of approximately $50 million at its peak. However, 95% of its supply was instantly claimed by over 30 new wallets at the opening. These wallets were funded from multiple centralized exchanges within half an hour before the token launch, with no prior on-chain activity. Subsequently, the tokens were distributed to over 2,500 new addresses via the Uniswap Router.

Bubblemaps noted that the project's documents only vaguely mentioned a presale and partner allocation, with no direct on-chain link to the team found. However, such high concentration, combined with undisclosed paid KOL promotional arrangements, poses significant risks.